Tuesday 24 April 2018

Willie O'Dea: Government and banks squeezing life out of small businesses

This sector which is so vital needs certainty and clarity, but it is getting neither, writes Willie O'Dea

IN Switzerland they managed to find a particle so infinitesimally small that it once only existed in theory; while in Ulster Bank they cannot find their customers' lodgement details.

The ongoing chaos in Ulster Bank reminds us how dependent we are on the banks, not just for the services they provide, but also for how they record and collate our various transactions with honesty and integrity.

The bosses at Ulster Bank and RBS stress that this breakdown of IT and computing is not a breakdown of banking. They may technically be right, but it certainly looks and feels like a breakdown of banking, especially as Irish customers wait two weeks longer than customers in Britain to have their problems sorted.

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